Corporate crises usually occur just below the perception radar of the management and the creditors. It is only when incoming orders do not in fact increase again, when losses have already been incurred, or when liquidity is getting tight that they come to the notice of those affected. The more advanced the crisis in which the company finds itself, the less time remains in which to take the measures needed to nurse it back to health.
Since every crisis is different and their causes are many and varied, each reorganisation project demands a concept that is tailored to the company.
On this basis, the management, shareholders and creditors agree on taking the appropriate action. The reorganisation concept lays the foundation for the success of the reorganisation process. The external stakeholders, particularly banks, will make the contributions necessary to restore the company's health only on the back of such a reorganisation concept. The necessary requirements on a reorganisation concept have been compiled by the Institut der Wirtschaftsprüfer, the Institute of Public Auditors in Germany, in its IDW S6 standard. The Federal Court of Justice (FCJ) has laid down the legal requirements.
Jointly with the management, we develop a company-specific concept for the reorganisation and/or continuation based on which the management, the shareholders and the creditors can take further steps.
A reorganisation concept compliant with the principles of IDW S6/FCJ offers a business